Topaz Energy (TSE:TPZ) Reaches New 12-Month High Following Analyst Upgrade

Topaz Energy Corp. (TSE:TPZ)’s stock price hit a new 52-week high during trading on Monday after Raymond James raised their price target on the stock from C$26.00 to C$27.00. Raymond James currently has a strong-buy rating on the stock. Topaz Energy traded as high as C$22.30 and last traded at C$22.21, with a volume of 5898 shares trading hands. The stock had previously closed at C$22.22.

A number of other equities research analysts also recently issued reports on TPZ. Desjardins increased their target price on shares of Topaz Energy from C$27.00 to C$27.50 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. TD Securities downgraded shares of Topaz Energy from a “buy” rating to a “hold” rating and set a C$23.00 target price for the company. in a research report on Tuesday, August 1st. Finally, CIBC increased their target price on shares of Topaz Energy from C$26.00 to C$26.25 in a research report on Friday, July 14th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Topaz Energy has a consensus rating of “Buy” and an average price target of C$27.56.

Topaz Energy Stock Down 1.0 %

The firm has a market cap of C$3.17 billion, a P/E ratio of 57.68 and a beta of 0.64. The business’s fifty day moving average price is C$21.52 and its two-hundred day moving average price is C$20.36. The company has a current ratio of 8.76, a quick ratio of 7.17 and a debt-to-equity ratio of 30.43.

Topaz Energy (TSE:TPZ) last released its quarterly earnings results on Monday, July 31st. The company reported C$0.06 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.01). The business had revenue of C$74.68 million for the quarter. Topaz Energy had a net margin of 16.88% and a return on equity of 4.13%. As a group, equities research analysts anticipate that Topaz Energy Corp. will post 0.3804498 EPS for the current year.

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 29th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 5.66%. The ex-dividend date is Thursday, September 14th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.30. Topaz Energy’s dividend payout ratio (DPR) is 326.32%.

About Topaz Energy

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates through two segments: the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6.1 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.